Post Office RD: The Post Office Recurring Deposit (RD) scheme presents an excellent opportunity for individuals aiming to build a substantial fund for the future through modest monthly savings. By contributing small amounts such as Rs 2000, Rs 3000, or Rs 5000 each month, you can secure safe and guaranteed returns. This scheme offers an annual interest rate of 6.7%, which is compounded, resulting in a significant sum upon maturity.
You can initiate your investment with as little as Rs 100, allowing for the gradual accumulation of wealth through consistent contributions. The scheme has a tenure of up to five years, after which you will receive your total investment along with the accrued interest.
How much return will you get for Rs 2,000 monthly investment
For instance, if you invest Rs 2000 monthly, your total investment over five years will amount to Rs 1,20,000, yielding Rs 1,42,732 at maturity, which includes Rs 22,732 in interest.
Calculation Upon Rs 3,000 per month
Similarly, a monthly investment of Rs 3000 will result in a total investment of Rs 1,80,000, culminating in Rs 2,14,097 at maturity, providing Rs 34,097 in interest.
In case you invest Rs 5,000 each month
If you choose to invest Rs 5000 each month, your total investment will reach Rs 3,00,000, and you will receive Rs 3,56,830 upon maturity, which includes Rs 56,830 in interest.
This government-backed investment scheme is characterized by its safety and risk-free nature, allowing you to reap substantial benefits from small investments without the volatility associated with the stock market.
Disclaimer
This is general information based on available online sources. Please verify before making any transactions. Times Bull is not responsible for any financial investments made, as it is entirely your responsibility. For better results, please consult a financial advisor.